Although that may be true in the overall scheme of things, there are certain athletes that Nike targets more often because they are more profitable. That comes from just total retail stores worldwide. The Nike Brand Most people associate footwear with the Nike brand and rightly so. Nike primarily targets consumers who are between years of age.
Behavioral Competency Importance of behavioral segmentation Behavioral segmentation is performed so that people showing similar buying behavior can be clubbed together in a single group and they can then be targeted. Also, as people are becoming more and more conscious about the brands they buy and the amount of competition present, customisation of products and services can also be done based on this type of market segmentation.
Behavioral segmentation is one of the four ways of market segmentationalong with demographic segmentationgeographic segmentation and psychographic segmentation.
Behavioral segmentation parameters The target consumers for a product or a campaign can be grouped on the basis of their behavioral characteristics which can be as follows: When a product is used or purchased for a particular occasion only. The occasion can be repetitive or can be once in a lifetime occasion.
This is also known as occasion segmentation. Accordingly, we call them heavy user or light user groups. Hence the usage frequency is considered as a part of behavioral segmentation 3.
Markets are segmented based on the retention rates of the consumers which is a fair indication of brand loyalty among them. A brand commanding a high degree of loyalty has a very high retention rate and does not need to worry too much about acquiring new customers.
But a brand with low loyalty levels continually needs to recruit new and new consumers to its basket. Consumer segmentation is also done on the basis of the different benefits perceived by different consumers.
There are certain benefits that a person is seeking from a product. Many such products are available which have different variety, price etc which fulfill the needs of a customer. But a customer opts for only those which gives him or her the maximum benefit.
This is also known as benefit segmentation. The above image shows the parameters or variables used in behavioral segmentation Advantages of behavioral segmentation Market segmentation is a critical part for breaking down the market into homogeneous groups having similar behavior which becomes easier for a company to cater to.
There are several benefits of segmenting on the basis of customer behavior. Some advantages of behavioral segmentation are: It helps a company identify customers with a similar behavior.
This makes it easier for companies to target them 2. Needs of people showing consistent behavior can be catered to as compared to people with erratic behavior 3.
Brand loyalty can be further built upon those customers who have shown as affinity towards a brand.
Thus behavioral segmentation can create a loyal customer base Disadvantages of behavioral segmentation There are certain drawbacks on segmenting the market on the basis of behavior.
Some of them are: Customer behavior changes with time, location, occasion, requirement etc and it can not always be predicted correctly.
Behavioral segmentation can only give a framework on personality traits and behavior 2. Mostly, behavioral segmentation would be done on the basis of qualitative data and not completely quantitative data.Definition of behavioral segmentation: A more focused form of market segmentation that groups consumers based on specific behavioral patterns they display when making purchasing decisions enabling producers to adapt their marketing.
Essays - largest database of quality sample essays and research papers on Behavioural Segmentation Nike. NIKE - Segmentation & Targeting 1. Arveen ShaheelB Segmentation & Targeting 2.
SegmentationGeographicDemographicPsychographicBehavioral. "Behavioural Segmentation Nike" Essays and Research Papers Behavioural Segmentation Nike Market segmentation allows businesses to satisfy the diversity in a resource-effective manner and is held up as the panacea of modern marketing (Dibb, ).
In the first part, the segmentation analysis for the NIKEiD will be conducted on the basis of demographic, geographic, behavioural and psychographic characteristics of the potential consumers.
Also, VALS segmentation would be given. Habit-based behavioral segmentation is a human-centered approach that segments the marketplace based on what consumers actually pfmlures.com behavioral segmentation projects begin with a two-sided habit analysis of how your customer base purchases and uses your products or services.